Arbitron (NYSE: ARB) 24% HIGHER; Nielsen (NYSE: NLSN) to acquire Arbitron for $48 per share, or a 26.2 percent premium from Arbitron's closing price of $38.04 on December 17th. The two will form one of the largest marketing information services companies, with annual revs expected to total about $6 billion.

Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) 24% HIGHER; announced positive results from the SET (Safety and Efficacy of Tasimelteon) Phase III study, evaluating tasimelteon, a circadian regulator for the treatment of Non-24-Hour Disorder (Non-24). Tasimelteon succeeded in the primary endpoint of Entrainment of the melatonin (aMT6s) rhythm as compared to placebo.

Galena Biopharma (Nasdaq: GALE) 15% LOWER; intends to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Nokia (NYSE: NOK) 5% HIGHER CEO Stephen Elop signaled in a CNET interview that a flagship phone for Verizon - like the Lumia 920 exclusive deal for AT&T - may be in the works.

RAIT Financial Trust (NYSE: RAS) 5% LOWER; has commenced an underwritten public offering of 9,000,000 common shares. The Company expects to grant the underwriters a 30-day option to purchase up to 1,350,000 additional common shares. Deutsche Bank Securities and Barclays are acting as the joint book-running managers of the offering.

Diamond Foods, Inc. (NASDAQ: DMND) 1% LOWER; reported Q1 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $258.5 million versus the consensus estimate of $274.44 million

Prospect Capital Corporation (Nasdaq: PSEC) 1% LOWER; intends to privately offer, subject to market and other conditions, $200 million in aggregate principal amount of senior unsecured convertible notes due 2019 (the "Notes"). In addition, the Company expects to grant the initial purchaser of the Notes an option to purchase up to an additional $30 million in aggregate principal amount of the Notes. The Notes will be offered in a private placement only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").